Control Roofing Overhead to Boost Your Bottom Line
If you want your roofing business to be profitable, you’ve got to manage your overhead – the ongoing costs and expenses to operate your business. Here are five roofing overhead costs to keep an eye on that will help boost your bottom line as a roofing company.
1. Inventory management
Save time while tracking your inventory levels, orders, deliveries, and sales.
- When you don’t use up all your supplies, an up-to-date inventory system lets you see what you have on hand at any point.
- You’ll save money as you won’t end up buying roofing and building supplies you don’t need just because you forgot you had them.
- Simplify your inventory management by getting Inventory Management Software, such as Sortly or Pro DBX.
There are a number of Inventory Management solutions to choose from. Ask your Gibson representative to recommend the best one for your business.
2. Equipment maintenance
Invest in good quality equipment. Regularly clean and maintain it.
- Clearly mark your tools and equipment to identify them.
- Use an inventory system to keep track of the job site location of tools and equipment.
- Ensure your safety equipment dries completely to avoid mold and mildew.
- In cooler weather, drain your compressor air tanks each night so that they don’t freeze.
Gibson carries a full range of parts for your equipment, such as nail gun o-rings, springs, push levers and feeders. If we don’t have it in stock at your location, we can order it for you.
3. Vehicle smarts
Save time and money throughout the year by regularly maintaining your vehicles.
- When your dump trailer is not in use, remove the battery and hook it up to a trickle charger so it’s ready for the next job.
- Consider leasing your company vehicle to take advantage of write-offs and the option to upgrade to a new vehicle at the end of your lease.
- Use your vehicles to advertise your business. Magnetic decals are an easy way to turn your truck and trailers into mobile ads.
4. Storage solutions
Storage units can be costly. Using space on your own property is the cheapest option.
- To maximize storage space, use sturdy shelving, hooks for hanging, and stackable waterproof bins to keep items organized and dry.
- If you need to rent storage space, consider out-of-town locations which are often less expensive.
- Before putting away your equipment at the end of the season, remove all debris and follow manufacturer’s recommendations for proper storage.
5. Depreciation
There are many advantages to claiming depreciation on your business overhead.
- Rather than claiming your initial larger purchases all in one year, depreciation allows you to amortize the expense over several years to keep your taxable income down.
- Things like vehicles, furniture, equipment, computers, and buildings all wear out over time.
- Talk to your accountant when purchasing higher priced items to see if they qualify for depreciation at tax time.
Looking for other ways to control your roofing project costs? Check out this article on how to be more efficient on the job and stay on budget: Simple strategies for roofing project management.
Feel free to reach out to your Gibson Representative for other ways to keep your costs down and your profits up. Or contact us at: info@site1768829716.mywhc.ca.
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